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Inside Washington

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Elizabeth Warren 7, Washington 5, America 3, Rupert Murdoch 3, Boehner 3, Obama 3, Massachusetts 2, Colby 2, Murdoch 2, Scott Brown 2, Abc 1, Obamacare Unbelievable Uncertainty 1, Healt Care 1, Antioch 1, Medicarare 1, New Enentitlement 1, Showtime 1, Epix 1, Cnn 1, Npr 1,
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  WJLA    Inside Washington    News/Business. Round-table discussions  
   feature nationally recognized journalists. (CC)  

    July 24, 2011
    9:00 - 9:30am EDT  

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their own liberal in cocongress want to raise taxes. >> what a sham,m, what t a scam. >> this week on "inside washington," a lively debate over the debt ceiling continues but the clock is ticking. >> congress must act before august 2. >> how about amending the constitution to requirere a balanced budget? >> it is not a a theater. it is a real plan. >> the gang of six has a plan to. is anybody lisning? the woman who dreamed uphe consumer protection agency is passed over for the job.. is therere a senate run in elizabeth warrrren's future? >> i threw rocks before i got to
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the town and i am not turn now. >> rupert murdoch call before committee of the british parliament. >> do you accept that ultimately you areesponsible for this fiasco?? >> no. captioned by the national captioning institute --www.ncicap.org-- >> here is the deal -- as we record the prorogram, we don't know how the debt ceiling business will playy out over the weekend, but we have to put our program over the air, so here goes. president obama said this wk that his hopes to elevate the tone to a polilitical discour in washington. >> the way you please run campaigns, the language used, the demonization of the -- the weight we e run campaigigns, the language used, the demonization of the otherer side,e, that has
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diminished trust and washington. >> anybody who has sat across the negotiating table from him over the past few weeks could be forgiven for being skeptical of them in his attempt to come across as a fiscal moderate. >> that is it senate minority leader mitch mcconnell who has made no secret of his hope that president obama is a one-term president, but as mark said last week, at least he is honest abou it. some democrats are angry at the president and his people, some republicans are warning boehner you better hold the line. how is this going to play o out charles? >> if i knew i would be rich. [laughter] it seems to me that the most likely outcome -- it is probably impossible to get a grand bargain. the democrats are not going to in to real structural change on entitlements, you not going to get republicans, at lst now
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go with increases in taxes per it will likely happen is we will go in e last minute with the mcnnell plan essentially a punt. is a democracy and people will decide in the next election if they want a democrat or republican starkly different visions of how the countrys run. >> colby? >> if it goes with the mcconnell pl, it will not be the end of it. it will be a real political fight. every time the president goes to increase the debt ceiling, he will be hammered for doing so. we will see a prolongation of this kind of political fight that we've seen so far. it is not going to be pleasant. >> nina? >> i feel li i'm watching "deal or no deal," but i am and cl -- i am ilined to agree with charles. at the moment, it appears that the republican base, the freshman class, will not allow boehner to go o with theang of
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six plant, or at least about on the gang of six planned, and the democrats will not allow obama to cave in and only do cuts without any renue enhancements. that leaves one thing mcconnell. >> mark? >> i do not disagree with charles. >> well then i retract. [laughter] >> im hoping to embarrass it charles by agreeing with him. anything of this magnitude this sense of urgency, you have to give everyone involved a sense of ownership. right now the only individuals with a sense of ownership are john boehner and eric cantor, the republican leaders who to their credit, have elevated the house to the key positionn in deliberations with the president. republicansnd the senate, it certainly democrats in the senate and democratic house
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members feel excluded and are angry, and that is a problem for any grand bargain. >> i think the republicans have a missed opportunity to the wanted to use the debt limit to get something. what republicans lost by not agreeing in advance among themselveses to a single plan and having the president after but will numbers and cuts on the table, which he has not done -- what the republicans in the house could do -- i talked about this in myy column -- half a trillion dollars in cuts and half a trillion dollars in raising the debt ceiling which gives you half a year in which you can negotiate a deal. if that passed, it would be very hard for the president to explain why he vetoed it and put us into defefault. >> i dagree it with charles. i will defer to the gentleman -- >> i will do part of the
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disagreement and leave the rest to you. [laughter] on the texas side of it -- taxes side of that -- unless the al includes increase in revenues, there will be no deal. there is no way the president will accept a package from the rereplicants without any revenue increases. i yield the rest of this out to mark. take it away, mark. >> to the best of f our knowledge the pending deal is cut 7 $3 trillion, to be followedy tax increases at a later date a player to be named later. this is a total reversal of what democrats have done in the past, which i is we will get our deal right now and it may mean a budget cutsater which some outdate and never get around to an is toheir advantage --
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southbound they it never gets around to, and iso their advantage. this is not to the congressional democrats' advantage and there is a serious shortage of trussed up there. the prospect and promise of revenue increases later with the republican congress opposed to it is pretty dubious. >> mr. shields to yield the balance of this time to the gentleman from antioch -- to the gentlewoman from npr. >> mr. shields is right. you have to have democrats to get a deal in the senate. there are 80 rublicans in the house who say they will not sign anything that has any tax increaeases. the democrats can always filibuster ideal -- filibuster a bad deal in the senate. you have to have a combination
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of tax increases and cuts to get it to pass either body, and you have to get it t to the floor, and in the housend you have to filibuster and the senate. >> house republicans say a bank at a solution, cut, cap and balance. at what point doeses a reality and rear its ugly head with these people, because it ain't gonna happen? >> i love the way you pe an object of a question, implying the insanity of a republican proposal that passedd the house. i want to remind viewers that this is a fair and balanced program. >> we do our best. we don't have the resources of rupert murdoch and fox news -- [laughter]r] >> but on a shoestriing you introduced a helluva lot of bias. think that if this were a less heated environment, cutting is a good idea, capping is a good idea. the balanced budget, and --
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and --balanced budget amendment is a problem, i have problems with it but joe biden, who is a democrat supporting one in the 1990's. it is not a good idea to introduce at the last minute.e. >> the cap is at 18.5%. ronald reagan's 8 budgets averaged 22% of revenues being gdp of the country. the gipper would be drummed out of the party and sent back -- >> 815% is the average of the postwar era. >> it isbsolutely not. you are wrong, wrong wrong.
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i blame both parties for the stalate.
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>> all the people who are responsible for this are elected to do a job. if i did my job like this, i would be fired. >> since it interviewed by cnn in response to the endless debate on the debt ceiling -- a sense interviewed by cnn and in response to the endless debate on the debt ceiling. 61% believe that if the debt ceiling is not raised, the country will be in even more hot water than it is now. who benefits the least from this? >> washington benefits the least. there is a slight advantage to the president when stacked up against the presiden -- against the republicans in congress. but there is a growing s sense of disgust and disappointment on the political process parties in general, who cares more about ordinary americans an average families and who is more willing to compromise, the president has the decided advantage over republicans.
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>> what about a gang of six? is anybody listening to these senators? >> originally there was a good response in the senate. roughly 40 senators step up and said they liked the idea. there were initially some smiles from the white hse. but then you started to hear from the ierest groups, the health groups saying that this was going to be hard on senior citizens devtating to people who rely on medicare. you certainly had anger in the house. thursday was probably theh high point or the l point in this whole debate. listen to rush limbaugh ranting almost a point of apoplexy over the grand bargain that may be developed. he is taking phone calls from boehner trying to assure him that there is no deal, getting text messages from cantor this
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thing. you have the democrats on the senate side apoplectic about the deal. >> every time you look at the television screen, there are elderlyy p people standing there in commercials warning, don't mess with medicarare, we govote -- >> there is no doubt that the gang of six recommendations are painful, but they are not nearly as painful a as the alternative being proposed by republicans. if we end up with severe cuts, the backlash from voters will be just enormous i just remember this -- whatever congress does today, it can and do tomorrow -- cann undo tomorrow. if there is a huge backlash, it could take more fiscal irresponsibility. >> charl how i is this playing with independents, and who are ready action is?
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>> there is a lot happening in the interim that all of us inside washington are affected by. independence will be swayed by how this is resolved not by what happened in the three weeks of the run-up. i think is most likely to be a punt, as it should b. obama has a vision of america. he introduced a new enentitlement, healt care, an increase in discretionary spending of 24% in two years. that is massive. he has a vision of america that is different from the republican idea that smaller government, reducing entitlements, living within a budget. % of gdp is our deficit to at -- 10% of g is our deficit. it is utterly astronomical. look, we lose a year and half in sollving problems, and yet it is such anssue it has to be decided by having a divided
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government, if republicans succeed -- >> i would offer this thought. you talk about a year-and-a-half of trying to pull out of the worst recession we have had since the great depression took a lot of time and energy and resources to do. what we also have operating here is such an anti obama mood that is all most difficult to get anything done. listen to rush limbaugh. his biggest concern was republicicans should do nothing to help obama. there was no reference to saving the country avoiding disaster with the debt ceiling. it was a question of helping or hurting obama. >> just to charl, the republicans' last-minute battlefield conversion to fiscal sanity was not on display in the last 20 years of republican
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presidentsts, in which we had on balanced budgets and every single one. the only balanced budgets we had were with the fellow from arkansas, you remember him. bill clinton. >> there is a problem with the recession and how much cutting you want to do o with the recession and what that does to feed rerecession.
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>> nobody is responsible to the american consumer, nobody is looking out for american families. >> harvard law professor elizabeth warren with abc's take tapper. she was a prime mover in the wall street reform andonsumer protection act which is behind schedule. wall street does not like this charles. >> how is it working out with 9.2% unemployment?
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the regulations that are yet to be written on this are going to take years and years. introduced nothing but uncertainty into the market. at onto that obamacare unbelievable uncertainty. nobody has any idea what the rates are going to be. who is going to be injured and not going to be insured. you are surprised businesses are not hiring? >> consumer protection agency is not responsible for that. >> dodd-frank bill was possible -- is responsible -- >> look at your credit card bill. for the first time -- >> i'd rather not. >> you can see what it costs you if you don't pay it off. this agency is to make us the buying public, able to see what the costs are and to make a market judgment as to what kinds of mortgage we want, what kind
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of credit card we want. it seems that those are all things that are eminently sensible. >> elizabeth warren's argument is that consumers are protected buying toys for their children but not these fancial instruments. >> is played out before the carter administration with the consumer protection agency, and we had esther peterson in that fight. she survived, but the agency did not. in this case, the agency is a vice but elizabeth warren doesn't -- agencies survived but elizabeth warren dozen. what is in the future for elizabeth warren? >> she wasas passed over for the job by former ohio attorney general richard cordray. >> why was she passed over? >> she could not confirm. >> now there is talk of her running in the senate in massachusetts against scott brown.
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>> this is a perfect time for her to announce she is and we would be happy to mention it on the show. scott brown is formidable. having been in massachusetts recently talking to a number of democrats who think it is going to be an uphill race against him -- b let's make one thing clear about richard cordray, an outstanding attorney general of oh. it is not just elizabeth warren at they are trying to sink, the republicans. dick shelby says he is going to filibuster him. they'd all like this agency. >> -- they don't like this agency. >> they never have. they don't like consumers very much. >> they don't like the revenue stream this agency has. >> that's right because it gives an autonomy -- >> let me explain to the viewers out there that this segment is
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three massachusetts democrat of the elizabeth warren campaign for senate, coming to a polling place near you -- >> did you read "the new york times"? >> i like mark's endorsement. >> she would make a good candidate, but so is brown. >> i feel like a sign language interpreter on this show. i have to explain what is really happeng. >> this replaces the sarah palin segment of the show. [laughter]
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>> this is the most humble day of my life. >> these actions do not live up to the standards our company aspires to everywhere on the world. >> rupert murdoch and his son james before a british parliament committee this week, apologizing profusely for the phone hacking scandal that has engulfed a company.
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next day, their stock went up. what did you take from this, colby? >> if i we a witness in a hostile situation, i would love to have wendi in. [laughr] >> murdoch's wife. >> this is not sam alito's wife weeping. she smacked down and die. >> -- donwwn thatuy. >> james has already been contradicted by other executives saying he knew more and he misled parliament. i am dubiousf what the fbi will find. but i have to say, every time i think this scandal cannot get worse, it does. >> this is the imleelda marcos
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of scands. there will be continued at shoes to drop. there are that many this man is humble modest, self-effacing. this is the despot. i pledge to you members of parliament, i will find out who running this company. this is serious and getting more by the moment. >> the murdochs were on the defensive and had a lot to defend. i thought their presentation was rather good. murdoch runs a company that is unbelievably divorce, and is one paper is a relatively small part of it -- unbelievably diverse and this one paper is a relatively small part of it. it looks like the committee accepted his protestations that he w not aware of all the shenanigans. what i thought really interesting,g, however was the way the committee conducted itself. hehere when you have hearings, like the ollie north hearings,
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the inquisitors are on a podium looking down on the defendant. there, it looks like the british parliament cafeteria meeting. a lot more pointed less pompous, more effective. >> ok, good review. last word. see you next week.
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